Disclaimer: Each post is for informational purposes only. It is not a solicitation, a recommendation or advice to buy or sell any security or investment product. Information provided in each post does not constitute investment advice.

Tuesday, August 29, 2017

Friday, August 25, 2017

SPX is probing the green primary trend line (Chart 1). This trend line is likely to break in coming days/weeks as the Midcap index, Russell2000, Wilshire 5000 and Transports have already broken their corresponding lines.

Friday, August 18, 2017

We continue to track the all-time-high in SPX as wave [3], [5] or [C] from its Feb 2016 low. A meaningful high is likely in place. A correction of (at least) the post-election rally is likely in progress. Bullish alternatives at smaller degrees exist (see below).

On the weekly chart, SPX touched the green base channel line as a result of the current sell-off (Chart 1). A rebound to the gray line is possible/probable, taking into account of the squiggles in Chart 2.

Current dynamic support levels (points for a potential rebound) are 2423, 2345, 2283 and 2218.

Bullish potentials at the two "smallest" degrees are shown in Chart 3 (green 4) and Chart 4 (purple (iv)*).

Saturday, August 12, 2017

SPX, once again, presents us with a potentially meaningful high (Chart 1).

We track the recent ATH as the end of a three (gray [C], blue and green [3]) or a five (red [5]) since the 2016 low.

Expect a meaningful pullback at least 2350 for wave [4]-down or much lower for a wave-two pullback at one larger degree or a reversal.

Expect a substantial rise in actual volatility in SPX if the spike in VIX is sustainable. Otherwise VIX may be overbought near term.

Current dynamic support levels (points for a potential rebound) are 2422, 2343, 2280 and 2215.

A near term bullish alternative interprets this past week's selloff as wave c-down of a (running?) flat wave (iv)* as outlined by the purple count (or ii-down of the red (v)-up, not shown, if (v)-up decides to extend). A decline below the horizontal purple line invalidates this possibility.

MID broke its base trend line as noted by Mkt Man, suggesting wave [3] is complete.

Thursday, August 10, 2017

[EOD] Stocks -
SPX closed below its SMA50, with SMA200 a potential near term target. Key near term bullish count is a (running?) flat wave (iv)* down (red-alt in Chart 1). Other counts look bearish. See charts.